Monday, January 28, 2013

Graupner in Financial Trouble, under a protective shield

As you may know, Graupner is going bad for few months/years now. They entered last december under a protection shield to avoid bankrupcy. Below is the translation of a official statement from the french representative of Graupner Franck Masselaert, explaining a bit more the current situation and where they are going.

Hi all,

In order to shortcut rumors spread by charitable souls that we now know - they are always the same - Here is the current situation at Graupner Modellbau in Kirchheim / Teck. The company is currently in Judicial recovery, and, at first, until February 28.

Stefan Graupner, in an official statement, said that the company, despite a strong recovery of its activity due to the HoTT product range, and an growth with 2 digits in 2012, Graupner has still serious financial difficulties due mainly to a lack of cash.

This crisis is of course partly due to the overall economic situation, but more sepcifically to the "failure" of the radio JR / iFS which cost us 30% of sales in 2009, and the departure of 60 employees. Since then, the situation remains tense and the company fails to replenish its accounts. Currently, a procedure called "Shield" has been engaged by a firm of lawyers to protect the company from a possible bankruptcy. This firm will presnt February 1st a restructuring plan which is expected to includ the firing of 50 people over the 130 current employees.

They will also introduce a new business model concept to better suit to the current market, reducing the size of the current catalog and focusing on the most attractive products range like HoTT. In addition, prospective investors may be consulted to assist in the revival of the brand. Hopefully, this project marks a new beginning for Graupner because no offense to some competitors who rejoice in this situation, I think it would be a great lack in our landscape if the company created in 1930 and has brought so many beautiful things would disappear. I take this opportunity to thank all those who support us, either by ordering or simply with a few words of encouragement. Finally, Gérard Altmayer and myself will be in Nuremberg to welcome you with great pleasure.

Sincerely,Franck Masselaert
Below are 2 video that come back on Graupner story. These video have been released for the 75th anniversary of the company, in 2005.